U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Retirement
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 10-15-2017, 01:00 PM
 
216 posts, read 114,316 times
Reputation: 168

Advertisements

Quote:
How do you do it right? Assume that, by age 69, the applicant is not in perfect health, but nothing terrible either.
Explore an annuity/ltc policy, mush easier underwriting.
Reply With Quote Quick reply to this message

 
Old 10-15-2017, 02:26 PM
 
Location: LTCShop.com
236 posts, read 113,208 times
Reputation: 151
Quote:
Originally Posted by Larry Siegel View Post
How do you do it right? Assume that, by age 69, the applicant is not in perfect health, but nothing terrible either.

Most "pundits" say that if you're over 60, don't apply for long-term care insurance because the premiums are too high. That's not true. When designed properly, policies can be affordable even for someone in their sixties.

Long Term Care Partnership policies can be especially affordable, when designed properly, except in CA. California's LTC Partnership program is the worst in the country and needs "renovating".

There are about 500 pre-existing conditions that are insurable for long-term care insurance.

It's true that the underwriting for "LTC Annuities" is lenient. But those products should only be used as a last resort if someone is uninsurable for long-term care insurance.

The key is working with an LTCi specialist who understands LTCi underwriting and who works with all the best companies.
Reply With Quote Quick reply to this message
 
Old 10-15-2017, 04:54 PM
 
216 posts, read 114,316 times
Reputation: 168
Just had a client 73, type 2 diabetic, epilepsy history but no episodes in 4 years {smokes pot to control seizures}. Best offer from Traditional plans was 5000 per month and 5 year benefit. Decided on a asset based annuity plan with 9000 monthly lifetime benefit. with 300,000 deposit.
Reply With Quote Quick reply to this message
 
Old 10-15-2017, 08:42 PM
 
Location: LTCShop.com
236 posts, read 113,208 times
Reputation: 151
Quote:
Originally Posted by Pintail07 View Post
Just had a client 73, type 2 diabetic, epilepsy history but no episodes in 4 years {smokes pot to control seizures}. Best offer from Traditional plans was 5000 per month and 5 year benefit. Decided on a asset based annuity plan with 9000 monthly lifetime benefit. with 300,000 deposit.
Why is the annuity better for your client?
Reply With Quote Quick reply to this message
 
Old 10-15-2017, 10:06 PM
 
Location: LTCShop.com
236 posts, read 113,208 times
Reputation: 151
Quote:
Originally Posted by Pintail07 View Post
Just had a client 73, type 2 diabetic, epilepsy history but no episodes in 4 years {smokes pot to control seizures}. Best offer from Traditional plans was 5000 per month and 5 year benefit. Decided on a asset based annuity plan with 9000 monthly lifetime benefit. with 300,000 deposit.

Unfortunately, the annuity has a $300,000 deductible.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Retirement
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top